For the first time in many seasons, consumer confidence is returning to the department store. Investors and analysts unanimously agree that Christmas 2010 will be the end of declining luxury sales. Unfortunately, consumer optimism translates into a more cautious discount season.
Saks Fifth Avenue still seems to be settling their Black Friday shopping incentives. For now, you can shop the eighth floor, designer shoe presale, where the markdown will officially be 30% Friday morning. In the contemporary department, fourth floor, items that are already discounted 40%, will be an additional 50% off until noon Friday. (There’s really not a big selection but the markdown is substantial.)
Third floor, designer clothing is still a mystery. We imagine that there will be 30% markdowns on some designers, like Oscar and St. John and maybe Dolce. We hear that many more collections will be added to the discount list starting December 7.
So the plan is to be patient and wait. Good deals exist even in the best of times. Everyone would agree Winter 2010 might be an improvement but it’s still not 1997.
Contact: Fifth Avenue Club (Eric) 212-753-4000